Japanese restaurant first in the world to accept cryptocurrency

Belgian beer store allows customers to order food and drinks with XEM
28 February 2018   2339

NEM's native token XEM got an interesting use case. Tokyo-based Belgian beer and traditional food store St. Arnould accepts XEM is a legitimate payment. The owner of the store runs the business for 8 years already, and the last 2 of them - dealing with the cryptocurrency. It all started with an occasional customer who offered to pay with XEM. The owner, Mr. Yousuke Sato got curious and allowed the transaction.

I became interested in virtual currencies about five years ago and began tweeting about them. I thought it would be interesting to accept payment in a virtual currency, so I said yes.

 

Yousuke Sato

Restaurant owner

Since then, the restaurant has gained an enormous popularity among virtual currency adepts and was largely accepted as the first such restaurant in the world. Even though recent hack of CoinCheck has severely damaged the reputation of NEM, it didn't affect the popularity of the restaurant in the slightest.

The market for virtual currency is still young so it’s only natural that it has become a target of speculation, but I think it has potential as a currency that is not restricted by country. I think it’s too early to say what will happen to virtual currencies in the future.

 

Yousuke Sato

Restaurant owner

Japan has already become a trending place for the virtual currencies as means of payment. In Tokyo alone there are an electronic retail franchise Yamada Denki, BBQ restaurant Nikugatou, sushi restaurant Numazuko. In Nagoya there is a hair salon Hair Grande Seeek.

NEM to Invest $120k in Malaysian Blockchain Startups

NEM in Malaysia will be engaged in the promotion of blockchain start-ups, as well as helping companies integrate DLT into their projects
05 July 2018   156

The NEM.io Foundation has opened a blockchain centre in Malaysia. The company allocated $ 120,000 to develop projects based on DLT in the country. This is reported by Ethereum World News.

The NEM Malaysia Center will be engaged in the promotion of blockchain start-ups, as well as helping companies integrate distributed ledger technology into their projects. NEM.io Foundation hopes to popularize its own XEM cryptocurrency in the region.

The task of the headquarters also includes informing the population about the features of the blockchain.

There is not enough understanding and (not enough) people who know how to use the technology to build up solutions for companies to solve some of the world’s problems. I think the mindset still remains the biggest challenge. For example, people may think it is complicated because of the buzzwords or more specific terms that are used.
 

Stephen Chia

Local Head, NEM.io Foundation

In March NEM.io Foundation and Tech Bureau announced the launch of the closed beta testing of the Catapult engine.